The outlook for India’s aviation industry remains “negative” in the wake of coronavirus outbreak, which has resulted in many international passengers cancelling their travel to South East Asian countries, according to rating agency Icra. More than 81,000 people have been infected and over 2,700 people have died due to coronavirus. China is the epicentre of the virus outbreak.
Icra noted that the outbreak has impacted travel to and from China as well as other South East Asian countries. “The suspension of flights on the India-China sector will not result in any significant impact on the financial performance of the airlines, unless the lockout is prolonged, as the traffic on these routes account for only 0.9-1.3 per cent of the total international passenger numbers.” Icra said on Thursday.
